Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
ITAT restored the assessee's appeal to the file of the ld. CIT(A) for fresh adjudication concerning interest and penalty alleged to have arisen from late deposit of TDS for Q3 A.Y. 2021-22, noting that factual and legal issues surrounding timely tendering of the TDS cheque to the bank and subsequent levy under s. 201(1A) require effective examination. The Tribunal did not decide the merits but directed de novo consideration by the CIT(A) and imposed a litigation cost of Rs.1,000 payable by the assessee. The matter is remitted for fresh decision on both liability for interest and imposition of penalty.
ITAT restored the assessee's appeal to the file of the ld. CIT(A) for fresh adjudication concerning interest and penalty alleged to have arisen from late deposit of TDS for Q3 A.Y. 2021-22, noting that factual and legal issues surrounding timely tendering of the TDS cheque to the bank and subsequent levy under s. 201(1A) require effective examination. The Tribunal did not decide the merits but directed de novo consideration by the CIT(A) and imposed a litigation cost of Rs.1,000 payable by the assessee. The matter is remitted for fresh decision on both liability for interest and imposition of penalty.
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TaxTMI 
TaxTMI 
of 4916 
